Impact Minerals Limited has raised approximately AUD 2.2 million (USD 1.56 million) before costs through a renounceable rights issue, providing additional funding to advance its two high-purity alumina projects in Australia. The company issued nearly 69 million new shares and approximately 46 million options under the capital raising, which was launched in August. Impact Minerals said the offer received strong participation from existing shareholders, including full take-up by its major German family office investor. Any remaining shortfall shares may be placed within three months, subject to the allocation policy outlined in the offer. Funding targets pilot and customer qualification work The fresh capital will support development of Impact Minerals’ Lake Hope and Alluminous high-purity...
The USD 4 billion Oklahoma aluminium smelter project planned by Emirates Global Aluminium (EGA) and Century Aluminum is facing a new hurdle in Inola, where the city council has extended a moratorium on smelter permits and called a referendum on the proposed facility. The 750,000-tonne-per-year aluminium smelter, announced in January, is expected to more than double current US primary aluminium production and would be the first new primary aluminium smelter in the country in almost 50 years. It would also become the largest source of primary aluminium in the Western Hemisphere. The project has taken on added importance as the US imports roughly 60 per cent of the primary aluminium it uses. Aluminium is essential to transportation, defence, aerospace and electrical infrastructure, making...
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A00 aluminium ingot price in China has plunged by RMB 280 per tonne on Wednesday, April 20, after the five consecutive days of hike. The Shanghai Metals Market data shows the price has come in at RMB 21,750 per tonne, with average prices likely to range between RMB 21,730 per tonne and RMB 21,770 per tonne. The spot contract is estimated to be traded at a premium price of RMB 70-30 per tonne. In most of the provinces like Gongyi, Foshan, Wuxi, Hangzhou, and Chongqing, A00 aluminium ingot price has plummeted by RMB 280 per tonne, while the price in Linyi, Tianjin, and Shenyang has slumped by RMB 290 per tonne, RMB 240 per tonne, and RMB 230 per tonne to stand at RMB 21,850 per tonne, RMB 21,770 per tonne, and RMB 21,750 per tonne, respectively. Among primary aluminium input costs, the...
The second-largest coal miner in Indonesia, PT Adaro Energy Indonesia Tbk will enter the aluminium sector as a part of the company's diversified business portfolio. Garibaldi Thohir, the President Director of Adaro said, “The Company would soon enter the aluminium business.” He further addressed, "It is hoped that this year and 2023 the construction of the smelter can begin so that in 2024 the construction will have been completed.” The motive for ADRO’s stepping into the aluminium sector is to contribute to the development of electric vehicles (EV) and aluminium batteries. Presently, the company is the second-largest miner in the nation concerning its production volume and market capitalization. The company, however, established a subsidiary in the name of PT Adaro Aluminum Indonesia,...
China’s A00 aluminium ingot price has been on the rise since Wednesday, April 13. Based on the data from the Shanghai Metals Market, the price for today (Tuesday, April 19) has stopped at RMB 22,030 per tonne, recording a rise of RMB 230 per tonne. The average price for the same is expected to hover between RMB 22,010 per tonne and RMB 22,050 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne. The A00 aluminium ingot price in Gongyi and Hangzhou has augmented by RMB 230 per tonne to score at RMB 22,010 per tonne and RMB 22,150 per tonne. For the same day in Foshan and Chongqing, the price has shown growth by RMB 210 per tonne to settle at RMB 22,140 per tonne and RMB 22,060 per tonne. In Wuxi and Shenyang, the A00 aluminium ingot price has hiked by RMB...
On Tuesday, 19 th April, the benchmark aluminium price for SHFE has increased by US$40 per tonne or 0.23 per cent to stand at US$3,466 per tonne. Overnight, the most-traded SHFE 2205 aluminium contract opened at RMB 21,895 per tonne, with the highest and lowest at RMB 22,200 per tonne and RMB 21,885 per tonne before closing at RMB 22,140 per tonne, up RMB 300 per tonne or 1.37 per cent. The LME was closed yesterday due to the Easter holiday, but will open on Tuesday. The most-traded SHFE 2205 aluminium closed up 0.44 per cent or RMB 95 per tonne to RMB 21,840 per tonne, with open interest down 11,226 lots to 144,897 lots. LME Aluminium Price LME was closed on Friday (Good Friday) which was the beginning of Easter Holidays and shall remain closed till Monday. LME will resume on Tuesday and...
In March 2022, China’s aluminium imports slipped below 200,000 tonnes, decreasing by 4.6 per cent year-on-year, found the General Administration of Customs. As per the data shown, the country secured 197,134 tonnes of unwrought aluminium and products, including primary metal and unwrought & alloyed aluminium in March 2022 compared to 206,556 tonnes a year ago. In the first quarter of 2022, China imported 533,136 tonnes of aluminium in total, which was down by 19 per cent on an annual basis, showed the customs data further. But in term of monetary value, the imports in March improved by 16 per cent year-on-year and that in Q1 rose 2.4 per cent, according to the official data. The price surge of overseas aluminium exceeding China’s domestic prices is one of the primary reasons for the...
On Monday, 18 th April, the benchmark aluminium price for SHFE has expanded by US$8 per tonne or 0.23 per cent to stand at US$3,426 per tonne. The most-traded SHFE 2205 aluminium contract opened at RMB 21,820 per tonne during last Friday’s night session and rose to RMB 21,905 per tonne before closing at RMB 21,755 per tonne, down RMB 95 yuan per tonne or 0.43 per cent. The most-traded SHFE 2205 aluminium closed up 2.29 per cent or RMB 490 per tonne to RMB 21,850 per tonne, with open interest down 11,437 lots to 156,123 lots. LME aluminium price The LME was closed last Friday due to the Good Friday holiday, and will remain closed for today due to the Easter holiday, but will open on Tuesday. On Thursday, LME aluminium cash bid price stood at US$3,237 per tonne and LME aluminium official...
In March 2022, China’s aluminium production recorded a rise of 1.8 per cent year-on-year to stand the highest since last May 2021, buoyed by production recovery and strong profits. As per the data showed by the National Bureau of Statistics, the output in China came in at 3.3 million tonnes, reflecting a year-on-year rise of 0.73 per cent from 3.276 million tonnes. But China’s daily average aluminium production of March was slightly down at 106,452 tonnes from the daily average of 107,288 tonnes during January-February, according to Reuters calculations based on the NBS data. The fall in daily average output in March could be attributed to narrow demand due to the recent COVID-19 outbreaks and ensuing lockdowns in China, despite provinces like Yunnan resumed production after being hit by...
On 16 th April 2022, the Founder and Chairman of Vedanta Resources Limited, Anil Agarwal exclaimed for more deregulation in India’s defence sector and the corporatization of defence factories to develop the nation self-reliant in terms of arms and weapons production. India has 52 defence factories that produce weaponry and ammunition, while primarily they are functionalizing at the capacity of 10%, as reported by the Chairman. While speaking at the launch of a virtual postgraduate programme for executives in London, Anil Agarwal commented, “We (India) have the potential to become the world’s largest arms and ammunition producer. If defence manufacturers are corporatized, a new way of thinking will emerge.” He further stated that there is an immense expenditure in regards to the...
This week the world’s primary aluminium segment reflected sporadic yet crucial changes. LME aluminium benchmark price on Monday, April 11, had opened the week with a fall of 4.72 percent to register at US$3,234.50 per tonne. However, on Thursday, April 14, the price had inched up by 0.95 percent to score at 3,237.50 per tonne. Apart from this, SMM price had opened the week on Monday, April 11 with a plunge of RMB 570 per tonne, which however had gone up from RMB 20,850 on April 12, Tuesday, to RMB 21,730 per tonne on Friday, April 15. Alcoa Corporation had said on Thursday, April 14 that it had entered into a supply deal with Speira to offer low-carbon EcoLumTM aluminium. Also, Fortescue Future Industries, a worldwide green energy supplier, claimed that would no longer be a shortage of...
Aluar, the largest aluminium smelter in South America and Acindar, the only subsidiary of ArcelorMittal, has agreed to spend $140 million in the San Luis Norte wind farm in the southern province of Chubut alongside chemicals business Petroqumica Comodoro Rivadavia. Aluar will be investing US$130 million in its eponymous wind farm near Puerto Madryn to erect 18 4.5MW turbines. The fourth stage expansion, which is scheduled to start operating in December 2023, will boost the plant's capacity by 81 megawatts to 246 megawatts. The energy produced will be used to power Aluar's principal aluminium factory in Puerto Madryn, "anticipating and exceeding the requirement of the national regime to promote the use of renewable sources," said Aluar chairman Alberto Martinez Costa. Meanwhile, Genneia,...
On Thursday, April 14, China’s social inventories of primary aluminium dipped after two weekly hikes. The Shanghai Metals Market data showed the inventories dropped by 3,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to total 1.063 million tonnes. Last Thursday, April 7, the primary aluminium inventories stood at 1.066 million tonnes accumulating 25,000 tonnes over a week. However, compared to this Monday, April 11, China’s primary aluminium inventories grew by 2,000 tonnes. Inventories on Monday fell by 5,000 tonnes from Thursday to come in at 1.061 million tonnes, showed SMM. The chart below indicates the current status of primary aluminium invetories across China in more details: The decline in primary aluminium inventories on Thursday was mostly...
On Thursday, April 14, Alcoa Corporation announced that it entered into a supply agreement with Speira to provide low-carbon EcoLum™ aluminum. Speira is a global aluminium rolling and recycling company, consisting of seven manufacturing facilities and one R&D centre. It serves the automotive, packaging, printing, engineering, and building and construction industries. Alcoa’s EcoLum™ brand belongs to the company’s Sustana™ family of low-carbon products, the most comprehensive in the aluminium industry. Alcoa produces EcoLum at its hydroelectric-powered aluminum smelters. It emits no more than 4.0 tonnes of carbon for every tonne of metal produced, including both direct and indirect emissions (scope 1 and scope 2) across the entire production chain, including bauxite mining and alumina...
LME aluminium opened at US$3,257 per tonne on Thursday and closed at US$3,299 per tonne, down US$42 per tonne or 1.29 per cent. LME aluminium cash bid price stood at US$3,237 per tonne and LME aluminium official settlement price halted at US$3,237.50, gaining 1 per cent and 0.95 per cent respectively, if compared with the records of Wednesday. 3-month bid price of aluminium rose by US$27.50 per tonne or 0.85 per cent to rest at US$3,265 per tonne. 3-month offer price also faced the same percentage of hike to settle at US$3,266 per tonne. According to Thursday’s LME official price chart, December 23 bid price stood at US$3,130 per tonne and December23 offer price at US$3,135, both witnessing an elevation of 0.32 per cent or US$10. LME aluminium opening stock went low from 612,275 tonnes to...
Amid the projection of global aluminium demand growth by almost 40 per cent to 119.5 million tonnes at the end of 2030, Emirates Global Aluminium (EGA), which currently forms the biggest part of Dubal Holding's portfolio, is mulling to expand the midstream and downstream aluminium industry, such as auto-spare parts, according to Mr bin Fahad. He said EGA’s investment is proceeding on track with Dh4 billion waste-to-energy project. He further explained the project will convert 1.9 million tonnes of waste per year into renewable energy, which will generate 200 megawatts of electricity to feed local grid to help them accelerate aluminium production. The facility is likely to commence operations by 2024, and more such plants are planned for the rest of the country, said Mr Fahad. The projects...
As per SMM report, the A00 aluminium ingot price in China has again witnessed a rise on Friday, April 15. For today, the price has increased by RMB 270 per tonne to come in at RMB 21,730 per tonne. The average price for the same is expected to range between RMB 21,710 per tonne and RMB 21,750 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne. In Gongyi, Hangzhou and Shenyang the price has gone up by RMB 260 per tonne to record at RMB 21,700 per tonne, RMB 21,840 per tonne and RMB 21,740 per tonne. In Foshan and Wuxi the price has augmented by RMB 370 per tonne and RMB 270 per tonne to close at RMB 21,870 per tonne and RMB 21,725 per tonne. For the same day in Chongqing, Tianjin and Linyi the price has also witnessed growth by RMB 300 per tonne, RMB 290...
On Tuesday the Supreme Court session commenced on a very serious allegation put down by Vedanta Ltd on National Aluminium Company Ltd (NALCO) the former pressing charges for non-compliance of the order dated January 14, 2020, due to which a three-judge bench allowed the plaintiff to bid for NALCO’s alumina tenders meant for export. The three-judge bench consisted of some of the renowned Justices of India like DY Chandrachud, AS Bopanna and V Ramasubramanian who were left focusing on issues such as NALCO paying no heed to LET Export Order even though Vedanta had provided the bill of export and certification of goods already admitted into the Special Economic Zones (SEZ) in India as per the provisions led by SEZ with special reference to Rule 30, carried on under the concerned SEZ...
During an international business awards to commemorate excellence across Europe, the Middle East and Africa, MQP, a British Firm which has attained more sustainable methods in manufacturing aluminium based products won the Most Innovative Company title. MQP masters in the art of blending aluminium grain refiner, a binding agent added to aluminium in the furnace to guarantee that sheet and billets to car roof panels and kitchen foil, do not open up in cracks. Television presenter and broadcaster Clare Balding OBE presented the Solihull based company with the award at the 2022 BizX Awards ceremony held at Farnborough International Exhibition and Conference Centre. The firm was singled out among the seventeen participants where it won completing with four other finalists. The firm won...
According to the Shanghai Metals Market, China’s aluminium production in March 2022 (31 days) stood at 3.315 million tonnes, 0.92 per cent less year-on-year. The daily average output was 106,900 tonnes, which also reflected a drop of 1000 tonnes on the year but 1,700 tonnes more than in the previous month. From January to March, China produced 9.465 million tonnes of aluminium in total, a decrease of 2.28 per cent year-on-year. In March 2022, many new capacities were put into operation, along with the resumption of suspended projects. In Yunnan and Guangxi, a total of 998,000 tonnes of new and resumed production capacity came into operation. Besides, domestic aluminium smelters faced no production cut in March. On the other hand, the conversion of aluminium liquid in some smelters was low...
